Daily Precious Metal Update

August 14, 2009 – Precious metal prices have slightly fallen today as investing markets in general are witnessing instability after mixed economic data showing a “little bit of everything.” In the past two weeks, a flood of economic data has caused moderate fluctuation with investing markets, and this comes as no surprise especially since many investors are seeking refuge with the safest assets possible. According to several market analysts, precious metal prices are being supported by an overall weaker United States Dollar Index and growing speculation that long-term inflation may wither away at dollar-backed assets down the road. If this long-term inflation does manifest in our economy, wouldn’t you like to know that you have a few bars and coins that could help you thrive?

Gold Spot Price = $948.20 per ounce, decreasing $6.70

Silver Spot Price = $14.71 per ounce, decreasing $.30

Platinum Spot Price = $1257 per ounce, decreasing $10

Wise American investors are currently seeking shelter from the United States Dollar and other paperback assets after economic data indicated that our economy is not recovering as quickly as expected. It also appears that other major nations like Germany and China are growing at a significantly faster pace than the United States. This should come as no surprise, especially after our excessive overprinting of dollars in order to prevent significant loss of confidence in our stock, bond and real estate markets. Fortunately, if further problems lie ahead in our economy, precious metal prices may thrive as they have done in the past during similar environments.

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Danny Burns

Senior Staff Writer - Precious-Metal.org